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Utilico Emerging Markets Utilities Limited ("UEM" or the "Company") Placing and Open Offer of up to 100 million C Shares at 100 pence per C Share

Hamilton, Bermuda, April 7, 2006 -- Utilico Emerging Markets Utilities Limited ("UEM" or the "Company") is pleased to announce that it has today written to shareholders in relation to proposals for a Placing and Open Offer of C Shares, to be made by Arbuthnot Securities Limited, to raise up to £100 million before expenses.

 

Highlights

 

·          Open Offer of 75,070,776 C Shares to qualifying holders at a price of 100p per C Share

·          Placing of up to 24,929,224 C Shares to investors procured by Arbuthnot Securities at a price of 100p per C Share

·          New Warrants to be issued, on the basis of one New Warrant for every five C Shares subscribed under the Placing and Open Offer

·          Total proceeds will amount to up to £100 million before expenses

·          Assets representing the net proceeds will be accounted for and managed as a distinct pool of assets until conversion

·          Arbuthnot Securities Limited is acting as nominated adviser and broker to UEM

 

Enquiries:

 

Utilico Emerging Markets Utilities Limited                                      Tel. 0137 227 1486

Charles Jillings

 

Arbuthnot Securities Limited                                                                          Tel. 0207 012 2000

Alastair Moreton